"Alexa, Where is My Stuff?" Retail Industry to Witness Voice...

"Alexa, Where is My Stuff?" Retail Industry to Witness Voice Revolution

By Retail CIO Outlook | Friday, September 06, 2019

Voice Commerce, retailers' new secret weapon, will help in increasing sales and retaining customers.

FREMONT, CA: Voice commerce is gathering more attention as the world moves at a rapid pace. Customers are opting for voice search and assistants while making purchases. The interaction between a brand and a consumer has seen immense improvement since incorporating voice recognition technology. Both consumers and retailers consider voice assistants extremely helpful. The development in voice search and assistants can be observed right from smartphones and smart TVs to wearables and microwaves, and is also incorporated into many other devices. It is actually very hard to name a device that is not voice-enabled. The customers will be happily comfortable with shopping using voice on website, apps, or event at stores. This makes us aware that it is an emerging trend and will enhance and become a huge market in the near future. The voice search technology is capable of performing more complex tasks apart from simple tasks like telling time or weather. Natural language processing (NLP) is enhancing and improving, and the more the voice-enabled devices learn, the more retailers will find them useful for their better understanding, performing, and aiding consumers in a variety of tasks, including voice-enabled shopping.

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Present Situation and Where it Leads

Voice commerce can also be referred to as conversational commerce. This is not a new concept in the retail space. In fact, this platform contributed to about $2 billion in e-commerce sales last year. It is said that a couple of billion dollars is considered as just a drop in the global retail bucket. Even though there are signs of progress to be made, many retailers as well as consumers who own voice assistants are users and mingle with their devices on a weekly basis. As more people try to see the benefits from the voice assistants, more shoppers will embrace voice commerce. The reason why voice commerce will enhance is that voice technology is constantly improving. As said before, advancement can be observed in NLP, and now the computers can listen to, interrupt, and measure sentiment. Not only that, since voice assistants are built on machine learning, the technology becomes better over time as more people start interacting with the devices more often. The advancement of voice-enabled technology has led voice assistants to where they are today.

Retailers and voice commerce platform

It is estimated that voice commerce will see a great advancement. This shows that retailers and consumers are moving away from screens as the primary interface for e-commerce and towards a screenless process instead. To take advantage of the emerging commerce boom, retailers should consider different ways they can reach their customers through voice—one of the best is using Alexa skills or Google Shopping Actions. As voice commerce is constantly growing and becoming better modified, brands will need to adapt to this change, as the impact will be huge. It will affect the consumers search for products and the different kind of choices that are presented before them. A jump from visuals to audio will also mean brands have to consider building an ecosystem to engage customers with a brand identity, which needs to be built around voice and personality.

Voice commerce field represents a shift in the way that the customers interact with the brand. Consumers are increasingly making purchasing decisions based on convenience. They are looking for advanced technologies, which make the retail experience as smooth as possible. Voice commerce is not only a trend but also a shift in the way we mingle with the environment around us. Voice search, voice commerce, and voice assistants will reform the world and has the potential to be a strong business opportunity for e-commerce brands and retailers in the United States. Different markets are accelerating at a different pace, but voice commerce focused in the United States is extraordinary. The US has about 60 percent of online consumers using voice assistants to shop online, compared to the 25 percent consumers in the UK.

Few Top Retail Companies: 22 Miles, AOPEN AmericaDTiQ


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